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BTC price breached the $17k support

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Bitcoin Approaches Oversold Zone As BTC Price Violates $17K Support – Dec 16, 2022

Bitcoin has been trapped between the moving average lines since November 30th BTC pricePostal infringes the $17,000 subsidy. Buyers and sellers have been negotiating prices for the past 48 hours. On December 14, bitcoin climbed to a high of $18,391 before falling again. The bears are still defending the resistance levels, as evidenced by this. The 21-day SMA was breached by the ensuing negative momentum.

Bitcoin price statistics data:
• Bitcoin price now – $16,821.50
• Bitcoin market cap – $323,660,485,403
• Bitcoin circulating supply – 19,235,587 BTC
• Total Bitcoin Supply – $353,369,203,917
• Bitcoin Coinmarketcap Ranking – No. 1

resistance levels: $50,000, $55k, $60k
Support levels: $25,000, $20,000, $15,000

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Bitcoin (BTC) price is declining with the price breaking below the 21-day SMA line and $17,000 support. As long as prices stay below the moving average lines, the current price decline can continue. The current support level has not been breached since November 30th. Bitcoin price on the downside is expected to rise to the previous low of $16,000. If the support at $16,000 holds, the sideways movement in BTC/USD will resume. BTC price has been confined between $16,000 and $18,000 since November 9. But if the $16,000 support is broken, Bitcoin will fall back to its predecessor As low as $15,588.

Europe and Africa will be able to transfer money through the Lightning Bitcoin network

CoinCorner and Bitnob are working together to create cross-border transactions from the UK and Europe to Africa via the Bitcoin Lightning Network. An external facilitator such as Western Union, which relies on centralized companies, is usually required to transfer funds between Europe and Africa. These transactions often need to be approved by many parties, which extends processing times and increases costs. According to World Bank projections, Nigeria has received about half of the $40 billion in remittances to sub-Saharan Africa each year as of 2020.

Users can now send money from the UK and other parts of Europe to a few African countries using the Bitcoin Lightning Network. With the help of Send Globally software, users can change British Pounds or Euros into Kenyan Shillings, Ghanaian Cedis, and Nigerian Naira. The Lightning Network transfers the funds directly to the recipient’s bank account or mobile financial wallet after first converting them into Bitcoin (BTC) indices at a low of $16,803 and the local currency of that country.

BTC/USD – 4 hour chart

Bitcoin price has since declined to a low of $16,743 as BTC price breaches the $17k support. With the market approaching the oversold zone, the current decline is expected to slow down. As long as the largest cryptocurrency remains above the current support, it is likely to reverse. A range bound move between the $16,000 and $18,000 levels will follow.

However, Bitcoin has been stuck in a range for more than a month. Some analysts believe that before Bitcoin reaches its bottom, it will continue to decline. Because Dash 2 trading It will allow them to enhance their trading opportunities, so traders have nothing to worry about. Dash 2 Trade gives you the power to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $10 million.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

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  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
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  • The original code for the crypto signals ecosystem

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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